AIM 2010 South Park, Social Media and Your Organization: The Philosophy Behind It All Steve Gilbert Sr. Marketing & Internet Advertising Associate Mission Residential Steve Gilbert Senior Marketing & Internet Advertising Associate Mission Residential

Social Media – Technology or Philosophy? Democratization of Company Performance “You No Longer Control Your Brand Message” Easily Accessible User Generated Content is Already Out There Better Business Bureau ApartmentRatings.com Yelp RentWiki.com Google Side Wiki “You can’t beat ‘em… JOIN ‘EM” THE CHALLENGE

BEWARE THE MONKEY! –Be transparent –Encourage feedback from customers –Monitor what is said –Engage who is saying it –Enforce accountability and action –Don’t be a fake WHAT IS THE PAY OFF? Separate the positive customer satisfaction performers from the bad. THE NATURE OF SOCIAL MEDIA

The “Good” – 10% of Reviews –“The leasing manger, David is outstanding. He was on top of things from the moment I walked thru the door.” The “Bad” – 85% of Reviews –“It is pretty ludicrous to charge money to pay rent on line.” The “Ugly” – 5% of Reviews –“The resident needs to have the pool open on Sunday so that she can baptize her kids.” THE NATURE OF PEOPLE

SOCIAL MEDIA – PROFIT, RIGHT!

P HASE 1 P HASE 2 P HASE 3 Collect customer reviews ? Profit BUT, EVERYONE ELSE IS DOING IT…

Acceptance Ownership Embrace Encourage Act Measure Buy-in? Resources? Corporate Culture? Push/Pull Strategy? Resident Retention Plan Tie-in with Existing Branding? Annual Resident Survey? Response Protocol? UGC/3 rd Party or Both? Tie-in with Employee Bonus Program? Thank You Gifts? Other Incentives? Lead Generation? Integrate with Resale/ CRMS? Recognition Program? Resident Retention Resident Referrals Turnover Expenses Content Quantity Content Quality Customer Satisfaction CONNECTING THE DOTS…

MarketingOperations Customer ServiceHuman Resources Social Media IT’S ALL MARKETING’S (circle one) FAULT / ACHEIVEMENT

Offer Residents a $200 Referral Bonus My Residents Visit My Website and Use Social Media Reward Your Residents who help promote your property “You Suck” “Hi, my name is Steve and I want to help you.” Perception – This Company Cares and Wants to Help “You Rock” “Thanks! Do you mind sharing this with the world?” Lead Generation LEVERAGING REVIEWS INTO DESIRED RESULTS

Short-Term –Set a monthly benchmark and incentive for positive user generated content –Set a short term benchmark for ApartmentRatings.com and other ratings sites – “Set it and they will Come” –Develop a motivational program that identifies key performers within your organization Mid-Term –Create and set monthly customer satisfaction survey goals –Define and set attainable resident renewal percentage goals –Identify realistic turnover expense reductions –Increase resident referrals from existing review boards Long-Term –PROFIT! $1,500 - $2,500+ bottom line impact per resident saved –Leverage reviews to identify and recognize achievers GOALS AND BENCHMARKS OF SOCIAL MEDIA

Social media is a philosophy espoused through your business objectives and driven with customer satisfaction Develop a plan that is congruent to your organization, culture, resources and expectations – one size does not fit all Have a clearly defined plan that is shared across your organization Positive or negative reviews pose the same opportunity for improved customer perception – it’s all about how you respond SUMMARY

Feel free to me… – QUESTIONS, COMMENTS, COMPLAINTS?